Find out whether Afterpay or zipPay is the right interest-free platform for you.
Buying now and paying later has gotten a lot easier with the arrival of interest-free finance platforms such as Afterpay, zipMoney, zipPay and Openpay. However, because there are a few platforms available it may be difficult to decide which is right for you.
If you're looking to purchase something interest-free or are just trying to decide whether interest-free finance is for you, we've compared two prominent platforms – Afterpay and zipPay – to help you narrow down your choices. Remember to consider all costs, features and the flexibility of each platform before you make your decision.
|Interest-free period||8 weeks||Full repayment term|
|Repayment term||8 weeks (fortnightly instalments)|
|Upfront and ongoing fees||None||$6 monthly fee charged the first day of the following month from the date of your purchase|
No fees if your balance is at $0
|Late payment fees||Your account may go into arrears if you continue to miss payments (one late payment will not do this)|
|Signup||Can be done instantly online or in-store at participating merchants||Sign up online in seconds (subject to approval) using Facebook or PayPal or at a participating merchant|
|Find out more||Read the full review||Read the full review|
|Credit score||Afterpay reserves the right to report negative activity to credit providers but generally doesn't check credit to approve applications.||zipPay reserves the right to check your credit report and report any negative activity to a credit provider.|
|Availability||Full Afterpay store list||Full zipPay store list|